CALGARY, Sept. 2, 2016 /CNW/ - Mosaic Capital Corporation ("Mosaic") (TSX-V Symbols: M and M.PR.A) is pleased to announce that its board of directors has approved a quarterly dividend on Mosaic's common shares (TSX-V Symbol: M) of $0.10 per share (or $0.40 per share on an annualized basis). This dividend will be paid September 30, 2016 to holders of record on September 15, 2016. The objective of paying a dividend is to allow common shareholders of Mosaic to participate in our free cash flow while ensuring Mosaic retains sufficient capital to preserve its strong balance sheet, continue its acquisition strategy and fund organic growth.
Mosaic's dividend on its common shares is designated to be an eligible dividend for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE MOSAIC CAPITAL CORPORATION
For further information: Allan Fowler, Chief Financial Officer, Mosaic Capital Corporation, 400, 2424 - 4th Street SW, Calgary, AB T2S 2T4, T: (403) 270-4663, E: firstname.lastname@example.org